Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
1. Suppose the Demand for baseballs is given by Q = 200 - 8P.
a) What is the price elasticity of demand when P = 6?
b) At what price will Total Revenue be maximized?
c) What is the firm's Marginal Revenue when the price is $10?
2. Suppose there are n identical firms in a market. Each firm's cost function is given by C = 240+ 15q2, where q is the amount that an individual firm produces. This means that an individual firm's marginal cost is given by MC = 30q. Also, the market demand is given by P = 504 - 8Q, where Q is the total amount of the good produced by all of the firms combined. Therefore, Q = n*q.
a) How much output will each of them produce?
b) What will be the market price?
c) How many firms will there be in long run equilibrium?
In a local market, the monthly price of internet access service decreases from $30 to $20, and the total quantity of monthly accounts across all internet access providers increases from 90,000 to 190,000.
Suppose Venezuela imports TV sets at a price of $150 each. Under free trade, how many sets does Venezuela produce, consume, and import? Determine Venezuela's consumer surplus and producer surplus. b. Assume that Venezuela imposes a quota that limit..
An agent for a residential real estate company has the business objective of developing more accurate estimates of the monthly rental cost for apartments. Toward that goal, the agent would like to use the size of an apartment, as defined by square..
Calculate the marginal revenue product for each additional unit of labor if output sells for $3 per unit b. Draw the demand curve for labor based on the above data and the $3-per-unit product price c. If the wage rate is $15 per hour, how much labor ..
Write the function for the indifference curve and graph it when U=10 and U = 20. b) Write the function for the budget constraint and graph it.c) What are the utility maximizing amounts of X1 and x2 given the budget constraint? d) Would your answer..
A major advantage of production function is that it can be easily transformed into a linear function, and thus can be analyzed with the linear regression method.
Swapna David is a customer assistant consultant for Acme Information Systems, who provides assistance for computer users. The mean number of calls per hour is 40 from across the United States and calls are independent.
Draw the indifference curve for U = 20. For what values of p1/p2 will the optimum be \(x_{1} = 0\) If neither x1 and x2 is equal to zero and the optimum is unique, what must be the value of x1/x2?
Draw a histogram of household size variable. On the histogram, mark in the mean and median. Comment on the shape of the distribution and what are the mean and standard error of your sampling distribution
If beta of portfolio is .326, the present yield to maturity on United States government bonds maturing in one year and an assessment that market risk premium.
Your firm designs training materials for computer training classes, and you have just received a request to bid on a contract to produce a complete set of training manuals for an 8-session class. From previous experience, you know that your firm f..
Suppose the inverse demand for a product is Q = ?P 1/2 + 10. Write the expression for the demand curve, i.e., P = f(Q). What kind of expression is this?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd